When project portfolio management is conducted in a data/process “vacuum,” it often does more harm than good. Breaking down departmental walls and building an integrated, holistic approach to PPM will help to eliminate bottlenecks and improve decision-making. Here are steps to make it happen.
Many potential projects that are considered for funding will ultimately not be approved despite significant time and effort spent on their business cases. Starting with a Value Proposition document can help weed out the less promising projects before a more detailed business case is necessary.
Successful portfolio management rests on complete confidence in the investment analysis and the underlying data it is based on. If business executives, portfolio managers and project teams don’t believe in the data, they won’t use the portfolio management system. Here are some data-gathering best practices to build that confidence.
John Baldwin, new CEO of on-demand PPM solutions provider Daptiv, shares his plans for the company, and where he thinks the industry is headed.
Are all your resources working toward the same overall goals and strategies? Do people and departments know what is important to the organization? Do they have incentives to get there? Here are three criteria for prioritizing and approving work in a portfolio.
From R&D to post-sales customer service, every group in an organization is critical to a new product’s success. PPM systems can unite all the elements that drive new product development — and squeeze more profits out of these projects.
Integrated, top-down governance is fundamental to successful portfolio management, and a strong PMO can play an indispensable role in monitoring and facilitating investment selection and execution.
There is no secret formula to project success, but the infamous flop of The Coca-Cola Company’s 1985 introduction of the “new Coke” offers a timeless case study in misunderstanding the end-user. It’s a lesson that project managers, product development teams and portfolio directors should all keep in mind as they balance expectations, risks and strategic goals. [4:40]
Without a solid understanding of strategy at all levels of the organization, the portfolio is just a disconnected set of investments — not really a portfolio at all. By implementing and following a strategic road map, companies can link their investments to results and more fairly evaluate project contributions. Here are some guidelines and examples.
Many organizations don’t do a good job measuring the benefits of the projects within their portfolios, and many more fail to formally compare the realized benefits to the estimated benefits in the business case. The process of business realization management can help.